Notes from the Civil Society Policy Forum on 11 October 2023 titled, "An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade."
International
IFI governance
Analysis
Marrakech Annual Meetings Wrap-up 2023: Bretton Woods Institutions wilt in the desert, as ‘pragmatism’ fails to resolve urgent crises
Incremental changes paper over deficiencies of status quo, as civil society calls for the radical change required to meet the moment.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2023: Climate vulnerable countries demand more voice at Bretton Woods Institutions
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
IFI governance
Analysis
G24 communiqué analysis Annual Meetings 2023: Scramble for 'last resort' support to struggling countries
The Annuals 2023 G24 communiqué for reiterates an urgent need for financial support from both the IMF and World Bank for indebted countries, whilst also supporting reform through quotas, a new SDR allocation & surcharge abolishment and review.
IFI governance
Analysis
G20 communiqué analysis Annual Meetings 2023: Nothing new under the sun
The Group of 20 (G20) communiqué was published on 13 October. It focused on the consequences of the evolving debt situation, reaffirmed support for the much-criticised Common Framework and was silent on debt relief. The section on MDB reform meanwhile stressed ‘bigger’ rather than ‘better’ banks.
IFI governance
Analysis
Development Committee chair’s statement analysis Annual Meetings 2023: Geopolitical fragmentation limits the ambition for reform
The Development Committee met on 12 October, with the chair issuing a statement, instead of a communiqué, reflecting the views of the majority of shareholders on the measures needed to tackle the development challenges that “have upended decades of hard-won development progress, and the development.”
IFI governance
Analysis
IMFC chair’s statement analysis Annual Meetings 2023: Fine words but little of substance as critical decisions kicked down the road
Divisions once again prevented the IMFC from issuing a communiqué. The chair issued a statement that promised much but delivered little, supporting a third Sub-Saharan African chair on the IMF’s executive board, but kicking key reforms like quota realignment and a discussion on surcharges down the road.
IFI governance
Background
The B-Ready Project: A significant departure from the Doing Business Report?
Notes from the Civil Society Policy Forum on 12 October 2023 titled, "The B-Ready Project: A significant departure from the Doing Business Report?"
IFI governance
Background
African perspectives on the reforms of the international financial architecture
Notes from the Civil Society Policy Forum Session 'African perspectives on the reforms of the international financial architecture' on 11 October 2023.
IFI governance
Background
Transformative policy pathways: Lessons from feminist economics programming for the IMF
Notes from the Civil Society Policy Forum on 10 October 2023 titled "Transformative policy pathways: Lessons from feminist economics programming for the IMF."
IFI governance
Analysis
Annual Meetings 2023 Preamble: Lack of governance reform and economic transformation front and centre as World Bank and IMF meet in Africa for first time in 50 years
As the World Bank moves toward finalising its ‘Evolution Roadmap’, and IMF shareholders struggle to agree on an outcome to the 16th Review of Quotas, the stakes in Morocco are high.
Gender
Analysis
WBG gender strategy risks undermining new human rights language with continued private sector bias
World Bank’s gender draft strategy for 2024-2030 steps up to name gender a human rights issue but fails to address barriers perpetuated by Bank’s macroeconomic model, while civil society warns of need to move away from Bank’s Maximising Finance for Development model as austerity sweeps the globe.